Strength and Security
Dominion Mortgages work in partnership with Paradigm Quest Inc (Paradigm) to provide affordable mortgage financing to Canadian Consumers under the Dominion Lending Centres brand.
Existing Clients - Customer Service
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Hours of Operation: Monday – Friday
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Paradigm Quest has been selected by Dominion Lending Centres to provide the servicing of our private label mortgage because of their proven customer service record. We feel comfortable they will service our clients as we would ourselves. [However it is important to note that Paradigm Quest is not affiliated, or compensated by Dominion Lending Centres. Their Underwriters, while focused on service, are trained to make credit decisions utilizing independent assessment criteria.]
Paradigm is an experienced and growing mortgage company with over $18 billion in assets under administration. Paradigm's role is to provide an independent assessment of credit quality, and to facilitate the mortgage process. Paradigm does not directly provide the funding for your Dominion Mortgage but does so through a number of capital market institutional investors who participate in the Mortgage-Backed Securities (MBS) program managed by the Canada Mortgage Housing Corporation (CMHC). CMHC is a federal institution that provides Mortgage Loan Insurance on MBS mortgages and your Dominion Mortgage is part of one of these government guaranteed MBS pools. MBS pools are a very popular investment choice in Canada for both individual and institutional investors with over $589 billion in MBS’ issued since the inception of the program.
To ensure that all mortgages meet CMHC requirements, a third party company (Computershare) acts as a custodian of the securities and they are required to register Dominion Mortgages in the name of “Computershare Trust Company of Canada”. While the mortgage is registered in the name of “Computershare Trust Company of Canada” and it will be reflected on the borrowers' documents as such, Paradigm is your day-to-day service provider for your Dominion Mortgage.
Paradigm Quest has selected Fidelity National Financial Canada (a division of FNF) an organization which specializes in facilitating mortgage transactions including: providing title insurance, document processing and third party funding for financial institutions. Paradigm uses FNF Canada to contact the appropriate solicitor and send instructions to close each mortgage on behalf of Dominion Mortgage.
Once the solicitor has fulfilled all financing conditions, the solicitor requests funds from FNF to fund and close each mortgage. FNF advances the funds to the solicitor and closes the mortgage on your behalf. This process centralizes all aspects of the legal portion of the mortgage and results in greater efficiencies and increased ease of communication.